Interest Rates and Monthly Payments

How much would my monthly payments rise, as the interest rates rise?

So what i’m going to do is try to keep it short, but map out how interest rates affect your monthly payments and give you my personal take on how big of a deal the interest rate factor is, in the big scheme of things.

Examples we’re going to use is if you’re hypothetically buying a single family home for $750,000 with 10% down (average) on a 30 year mortgage.

Interest rates, we’re going to use the interest rates 2 years ago (3.4%) 1 year ago (3.9%) February (4.4%), now 5% and possible future 5.5%.